A new €1.4 million fund to train managers in the small and medium enterprises sector will help firms realise their potential and improve productivity and performance.
This is the view of Fianna Fáil Galway West TD Frank Fahey, who said it is estimated that “improved management capability” could be worth between €500 million and €2.5 billion to the manufacturing sector.
The initiative is aimed at supporting small businesses, and will see the establishment of a credit review office to review adverse decisions by lending institutions; ensure the provision of €12 billion in extra lending by Bank of Ireland and Allied Irish Bank; and ensure greater SME access to public contracts.
It will also introduce a commitment by Government to pay its debts to businesses within 15 rather than 30 days; ban upward only rent-reviews; reducing the regulatory burden for businesses; maintain supportive tax measures for start-ups; and launching a €500 million innovation fund to attract investment in businesses.
